Property Overview: 973 Warsaw Avenue, Winnipeg

Key Characteristics & Appeal

This property at 973 Warsaw Avenue in Winnipeg's Rockwood neighbourhood presents a unique opportunity defined by its land value and potential. The lot itself is a key asset, ranking within the top 30% for size on its street at just over 3,000 square feet. The most striking characteristic is its exceptionally low assessed value of $18,600, which places it in the bottom tier compared to nearby properties. This combination suggests the appeal lies primarily in the land itself, rather than any existing structure, which may be very modest, in need of significant renovation, or possibly even a vacant lot.

Its primary suit would be for value-driven buyers with a vision for the future. This includes builders or developers looking for a infill opportunity in a central area, or hands-on investors and homeowners who see past current condition and are prepared for a major project—whether that’s a substantial rebuild or a new construction. It’s a property that asks for imagination and investment to unlock its value, rather than offering immediate move-in readiness. A less obvious perspective is its potential appeal to someone seeking a minimal property tax base while they plan a long-term custom build, given the low assessment.

Frequently Asked Questions

1. What does the very low assessed value indicate?
It typically indicates that the municipal assessment is based largely on the land value, with little to no value assigned to any existing structure. This often points to a home that may be outdated, in poor condition, or potentially not habitable in its current state.

2. Is this a vacant lot?
The listing does not explicitly state it is vacant, but the data strongly suggests it. The lack of details on living area, year built, basement, or garage—coupled with the lowest possible assessment ranking—implies there may be no substantial dwelling on the property. Verification with the listing agent is essential.

3. Who would this property suit best?
It is best suited for builders, developers, or very hands-on buyers planning a new construction or a complete tear-down and rebuild. It is not likely a fit for buyers seeking a turn-key or even a standard renovation project.

4. How does the land size compare?
At 3,026 sq ft, the lot is a good size for the area, larger than many in its immediate vicinity. This is one of the property's clear strengths, offering reasonable space for a new home.

5. Why are the comparison homes so different in value?
The listed "nearby & similar assessment" properties are similar only in their low municipal assessment figure, not in type or location. The "people also viewed" homes show more relevant neighbourhood comparisons, with assessed values ranging dramatically higher, highlighting the unique, value-driven nature of 973 Warsaw Avenue.